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Carver Federal Savings Bank Strengthens Lending & Community Development Team With Key Appointments

-- Blondel A. Pinnock Promoted to Chief Lending Officer --

-- Takisia Whites Appointed President of Carver Community Development --

NEW YORK, Nov. 12, 2014 (GLOBE NEWSWIRE) -- Carver Federal Savings Bank ("Carver" or the "Bank"), a leading New York City community bank serving urban customers, announced today two key appointments designed to strengthen the Bank's lending and community development team. The Bank is a wholly-owned subsidiary of Carver Bancorp, Inc. (Nasdaq:CARV).

Blondel A. Pinnock was promoted to Chief Lending Officer, Senior Vice President at the Bank. In her new role, Ms. Pinnock will be responsible for the leadership and day-to-day management of the Bank's loan production department. Ms. Pinnock was formerly the President of Carver Community Development.

Takisia Whites was appointed President of Carver Community Development, and will continue in her current role as Non-Profit Team Leader in the Bank's Lending Department. In her new role, Ms. Whites will be responsible for managing the day-to-day activities of the Bank's New Markets Tax Credit ("NMTC") program and will oversee community engagement.

"In recent months, we have focused much energy on restructuring and 'building out' our credit team to better position the Bank for increased loan production, with an ongoing focus on credit quality, to drive profitability and to make a positive impact in the communities we serve," said Michael T. Pugh, President and Chief Operating Officer of Carver Federal Savings Bank. "Collectively, we view these appointments as important elements to continuing our renewed focus on disciplined lending growth."

"Blondel's broad experiences in community development, public-private partnerships and government services position her well to make an immediate and positive contribution to Carver as our Chief Lending Officer," said Mr. Pugh.

"Takisia brings a strong set of lending and community developments skills to her new role as President of Carver Community Development, which will help to further deepen our partnerships with key profit and non-profit institutions," said Mr. Pugh.

Blondel A. Pinnock Bio

Ms. Pinnock joined Carver in 2008 from Bank of America/FleetBoston, where she was Senior Vice President of Community Development Banking. Prior to that position, she was Deputy Director and Counsel for the Department of Housing Preservation and Development in New York City. She earned a B.A. degree in history/sociology from Columbia University and a J.D. degree from Hofstra University School of Law.

Takisia Whites Bio

Ms. Whites joined Carver in 2012 from Westhab Inc., a community development organization headquartered in Yonkers, NY, where she was a Senior Development Associate in the Real Estate Division. Prior to that position, she was Assistant Vice President of Community Lending and Investments at Washington Mutual, and before that she was a Development Officer at the New York City Housing Partnership / Enterprise Community Partners. She earned a B.A. degree in political science from Hampton University and an M.S. degree in urban policy analysis and management from The New School.

About Carver Bancorp, Inc.

Carver Bancorp, Inc. is the holding company for Carver Federal Savings Bank, a federally chartered stock savings bank. Carver was founded in 1948 to serve African-American communities whose residents, businesses, and institutions had limited access to mainstream financial services. Carver has been designated by the U.S. Treasury Department as a Community Development Financial Institution (CDFI) because of its community-focused banking services and dedication to the economic viability and revitalization of underserved neighborhoods. Carver is the largest African- and Caribbean-American run bank in the United States, with ten full-service branches in the New York City boroughs of Brooklyn, Manhattan, and Queens. For further information, please visit the Company's website at www.carverbank.com.

CONTACT: Michael Herley/Ruth Pachman Kekst and Company (212) 521-4897/4891 michael-herley@kekst.com ruth-pachman@kekst.com Michael T. Pugh President and Chief Operating Officer Carver Federal Savings Bank (212) 360-8840 michael.pugh@carverbank.comSource:Carver Federal Savings Bank